FBTCX vs. FBTAX

Last updated Jun 5, 2026

FBTCX (Fidelity Advisor Biotechnology Fund Class C) and FBTAX (Fidelity Advisor Biotechnology Fund Class A) are both Health & Biotech Equities funds from Fidelity. Over the past 10 years, FBTCX returned 9.14%/yr vs 10.67%/yr for FBTAX. With a 1.00 correlation, they move nearly in lockstep. FBTCX charges 1.75%/yr vs 1.00%/yr for FBTAX.

Performance

FBTCX vs. FBTAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Biotechnology Fund Class C (FBTCX) and Fidelity Advisor Biotechnology Fund Class A (FBTAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBTCX achieves a 0.28% return, which is significantly lower than FBTAX's 0.59% return. Over the past 10 years, FBTCX has underperformed FBTAX with an annualized return of 9.14%, while FBTAX has yielded a comparatively higher 10.67% annualized return.

FBTCX

• 1D: 1.44%
• 1M: -4.83%
• YTD: 0.28%
• 6M: -3.62%
• 1Y: 45.79%
• 3Y*: 14.15%
• 5Y*: 7.24%
• 10Y*: 9.14%

FBTAX

• 1D: 1.43%
• 1M: -4.75%
• YTD: 0.59%
• 6M: -3.24%
• 1Y: 46.95%
• 3Y*: 17.55%
• 5Y*: 9.43%
• 10Y*: 10.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FBTCX vs. FBTAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBTCX Fidelity Advisor Biotechnology Fund Class C	0.28%	38.48%	-2.00%	9.86%	-8.64%	-3.72%	31.17%	24.82%	-4.55%	24.81%
FBTAX Fidelity Advisor Biotechnology Fund Class A	0.59%	39.54%	5.37%	10.70%	-7.95%	-3.10%	32.17%	25.74%	-3.86%	25.80%

Correlation

The correlation between FBTCX and FBTAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Dec 28, 2000	1.00

The correlation between FBTCX and FBTAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FBTCX vs. FBTAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FBTCX

FBTCX Risk / Return Rank: 61
FBTCX Sharpe Ratio Rank: 49
FBTCX Sortino Ratio Rank: 45
FBTCX Omega Ratio Rank: 40
FBTCX Calmar Ratio Rank: 92
FBTCX Martin Ratio Rank: 78

FBTAX

FBTAX Risk / Return Rank: 63
FBTAX Sharpe Ratio Rank: 52
FBTAX Sortino Ratio Rank: 48
FBTAX Omega Ratio Rank: 42
FBTAX Calmar Ratio Rank: 93
FBTAX Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FBTCX vs. FBTAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Biotechnology Fund Class C (FBTCX) and Fidelity Advisor Biotechnology Fund Class A (FBTAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FBTCX	FBTAX	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.12	-0.05
Sortino ratio: Return per unit of downside risk	2.84	2.89	-0.06
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	5.03	5.23	-0.20
Martin ratio: Return relative to average drawdown	14.53	15.18	-0.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBTCX vs. FBTAX - Sharpe Ratio Comparison

The current FBTCX Sharpe Ratio is 2.07, which is comparable to the FBTAX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of FBTCX and FBTAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FBTCX	FBTAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	2.12	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.40	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.44	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.31	-0.04

Drawdowns

FBTCX vs. FBTAX - Drawdown Comparison

The maximum FBTCX drawdown since its inception was -64.04%, roughly equal to the maximum FBTAX drawdown of -63.55%. Use the drawdown chart below to compare losses from any high point for FBTCX and FBTAX.

Drawdown Indicators

	FBTCX	FBTAX	Difference
Max Drawdown Largest peak-to-trough decline	-64.04%	-63.55%	-0.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-8.91%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-37.26%	-32.86%	-4.40%
Max Drawdown (5Y) Largest decline over 5 years	-37.26%	-36.51%	-0.75%
Max Drawdown (10Y) Largest decline over 10 years	-39.37%	-38.82%	-0.55%
Current Drawdown Current decline from peak	-7.72%	-7.61%	-0.11%
Average Drawdown Average peak-to-trough decline	-23.08%	-21.22%	-1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	3.06%	+0.07%

Volatility

FBTCX vs. FBTAX - Volatility Comparison

Fidelity Advisor Biotechnology Fund Class C (FBTCX) and Fidelity Advisor Biotechnology Fund Class A (FBTAX) have volatilities of 6.87% and 6.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBTCX	FBTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.87%	6.88%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	16.66%	16.63%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	22.04%	22.02%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.64%	23.48%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.49%	24.42%	+0.07%

FBTCX vs. FBTAX - Expense Ratio Comparison

FBTCX has a 1.75% expense ratio, which is higher than FBTAX's 1.00% expense ratio.

Dividends

FBTCX vs. FBTAX - Dividend Comparison

FBTCX's dividend yield for the trailing twelve months is around 1.68%, more than FBTAX's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBTAX Fidelity Advisor Biotechnology Fund Class A	1.44%	1.45%	6.00%	1.15%	0.00%	20.12%	8.37%	6.77%	2.50%	0.00%	0.00%	5.36%
FBTCX Fidelity Advisor Biotechnology Fund Class C	1.68%	1.68%	0.00%	0.00%	0.00%	24.50%	9.78%	7.92%	2.92%	0.00%	0.00%	5.73%

Frequently Asked Questions

Can I hold both FBTCX and FBTAX in my portfolio?

With a correlation of 1.00, FBTCX and FBTAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FBTCX or FBTAX?

FBTAX has higher volatility (6.88%) compared to FBTCX (6.87%). In terms of maximum drawdown, FBTCX dropped -64.04% vs FBTAX's -63.55%.

Which has better risk-adjusted returns?

FBTAX currently has the higher Sharpe Ratio (2.12 vs 2.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.